Alternative assets outgrow traditional funds in Singapore

Singapore_MerlionAssets held in alternative investments such as private equity are outgrowing traditional asset classes in Singapore. Alternative assets managed in the city state grew by an average of 17% in the past two years, according to a speech by the managing director of the Monetary Authority of Singapore. Overall, growth of assets under management in Singapore was about 13% a year over the past two years. “There are currently about 220 venture capital and private equity managers located in Singapore with the majority of private equity managers focused on growth and buyout strategies,” said Ravi Menon in the speech, the text of which was posted to the authority’s website. In recent years, Singapore has sought to establish itself as a regional hub for asset managers. The country has established a new fund vehicle, the Singapore Variable Capital Company (S-Vacc), with the aim of attracting managers to domicile new funds domestically. ©2018 funds global asia

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